Private Information Irrelevant for Optimal Outcomes, Challenging Economic Assumptions
The article investigates how private information affects decision-making in economics. The researchers show that in many practical situations, if people's private information is linked, you can create systems that don't let them benefit much from what they know. This means that even if people keep secrets, those secrets don't change the overall result. In simple terms, the study challenges the importance of individual secrets in shaping economic outcomes.